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 EUR/CHF Daily Outlook

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fxpulsation



Posts : 8759
Join date : 2012-01-25

PostSubject: EUR/CHF Daily Outlook   Thu Mar 06, 2014 10:34 am



EUR/CHF Daily Outlook

Daily Pivots: (S1) 1.2174; (P) 1.2186; (R1) 1.2198; More...

Intraday bias in EUR/CHF remains neutral for the moment. As long as 1.2260 resistance holds, another fall is mildly in favor. But again, we'd look for bottoming below 1.21. Meanwhile, on the upside, break of 1.2260 will indicate near term reversal and turn outlook bullish for stronger rally.

In the bigger picture, EUR/CHF faced strong resistance from 38.2% retracement of 1.6827 to 1.0061 at 1.2646 and reversed. Sustained break of this level is needed to confirm larger up trend resumption. Otherwise, outlook will stay neutral for more range trading. But after all, downside of another decline attempt should be contained by SNB's 1.2 floor.
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